top of page
Orgill_OBE-SUM24-Key Media-Digital Ad970x90 (May web)

Nov 18, 2022

Canadian Sale Reduces Lowe’s Earnings

Lowe's Companies, Inc. had net earnings of $154 million for the third quarter of 2022, a decrease compared to net earnings of $1,896 million in the third quarter of 2021. The third quarter included a pre-tax non-cash asset impairment charge of $2.1 billion related to the company’s sale of its Canadian retail business. Total sales for the quarter were $23.5 billion compared to $22.9 billion in the prior-year quarter and comparable sales increased 2.2 per cent year-over-year. Comparable sales for the U.S. home improvement business increased three per cent for the third quarter.

Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.

bottom of page